HomeSmart-i

1. What is Diminishing Musharakah?

“The Customer and the Bank will be in a partnership to purchase a property. The Bank’s share of the property will diminish over time during the tenure, while the Customer’s share of the property will increase at the same time as a result from the monthly payments to the bank. Ultimately, the Bank will transfer the full ownership of the property to the Customer at the end of the facility or upon early settlement by the Customer, whichever is earlier.”

2. How does “daily profit calculation” help me own my home faster?

As profit is calculated daily, any excess amount you’ve deposited in your account be it from your salary, savings or even your bonus, the longer it is in the account, you are actually benefiting towards reducing the total payments for your home financing.

Just follow these 3 simple steps:

This way, you will be saving more on profit payment and on your way to owning your home faster!

3. Who can apply for HomeSmart-i?

This product is open to all i.e residents and non-residents aged 18 and above.
(Up to 35 years of financing or until age 65, whichever is earlier)

4. What are the benefits of refinancing?

You can refinance with HomeSmart-i from a conventional home loan and enjoy these benefits:

• 100% stamp duty waiver* (For outstanding principal balance only)
• Possibly reduce monthly payments
• Free up cash for other priorities
• Enjoy greater flexibility in managing cash flow

*Stamp duty fee waiver will only be applicable upon switching your existing conventional home loan to HomeSmart-i (For outstanding principal balance only).